HOOD Stock Clocks Best Rally In Six Months: Morgan Stanley Turns Bullish On ‘Evidence’ Of Growth Beyond Crypto

Over the past month, Robinhood has expanded beyond its commission-free trading roots with new products including Robinhood Chain and Robinhood Earn.

• Robinhood stock posted its best month in August, after closing up over 21%. 
• The chain’s total value locked remains lower than other chains like Ethereum and Hyperliquid, but has been picking up steam.
• Following the firm's August rally, Morgan Stanley raised Robinhood to overweight from equal weight, raising its price target to $150 from $124 on its growth outlook.

Robinhood’s latest rally has caught the market’s attention. Shares of Robinhood (HOOD) clocked its best month in the last six months, and edged higher on Tuesday after Morgan Stanley upgraded its rating of the stock to ‘Overweight’ and hiked its price target to $150. They believe that the company’s expanding product lineup is creating more ways to monetize its roughly 28 million customer base. 

Robinhood Rallies 21% In August

HOOD shares broke above the key $100 level during the second half of August, when the stock began the month near $90 and jumped to an intraday high of about $112 on August 25. The stock closed up more than 21% in the month. However, despite giving back some gains in the final week of August, HOOD still finished the month with a sharp rise from its late July level near $86.